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Frank Bisignano

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Trump Accounts: A Good Idea Turned 'Icky' by Stock Donations
economy21 hours ago

Trump Accounts: A Good Idea Turned 'Icky' by Stock Donations

Trump Accounts were a good idea, but the administration's decision to allow wealthy donors to contribute individual company stocks has made it 'icky,' according to The Bulwark. Frank Bisignano defends the legality of these stock donations despite concerns about concentration risk. The program, which began auto-enrolling children under 18 in tax-advantaged investment accounts, now allows wealthy donors to contribute individual company stocks, a shift that critics warn ties long-term financial security to single companies.

via The Bulwark|
#auto-enrollment#concentration-risk#economy
Ex-JPMorgan Executive Joins SSA as Unpaid Advisor to Modernize Social Security
politics1 month ago

Ex-JPMorgan Executive Joins SSA as Unpaid Advisor to Modernize Social Security

Former JPMorgan COO Matt Zames is joining the Trump administration as an unpaid adviser to the Social Security Administration to help modernize the agency, starting at SSA headquarters in Baltimore. He will work with SSA Commissioner Frank Bisignano; Zames brings tech and restructuring experience from JPMorgan and Cerberus, but the SSA faces aging systems and funding concerns that could require future benefit changes. As a special government employee, his role is limited to about 130 days and is not full-time.

via CNBC|
#frank-bisignano#jpmorgan-chase#matt-zames
Bisignano to lead expanded Trump Accounts rollout, Treasury confirms
policy2 months ago

Bisignano to lead expanded Trump Accounts rollout, Treasury confirms

The Treasury Department says Frank Bisignano will oversee the expanded rollout of Trump Accounts, a tax-advantaged savings program that debuted July 4, while retaining his roles as IRS chief and SSA commissioner. Accounts allow up to $5,000 per year per child into a tax-deferred account, with withdrawals generally allowed at 18 and taxes/penalties for early withdrawals (with some exceptions). The program already has about 6.5 million participating families and includes a one-time $1,000 government contribution for children born 2025–2028 as part of broader access expansion aimed at boosting participation in stock-market gains.

via CNBC|
#frank-bisignano#irs#policy
politics7 months ago

IRS Chief Grilled by Lawmakers Over Unprepared Answers at Hearing

During his first appearance before the House Ways and Means Committee, IRS CEO Frank Bisignano faced sharp questions from Rep. Max Miller about tax-season operations and policy issues, including digital-asset taxation and a marriage-penalty deduction. Bisignano offered vague, repetitive answers, prompting Miller to call him unprepared and embarrassingly uninformed, as lawmakers pressed on questions about tax policy and enforcement during peak filing season.

via Politico|
#congressional-hearing#frank-bisignano#irs
Trump Appoints Fiserv CEO Bisignano to Head Social Security Administration
politics1 year ago

Trump Appoints Fiserv CEO Bisignano to Head Social Security Administration

President-elect Donald Trump has nominated Frank Bisignano, CEO of Fiserv Inc., to lead the Social Security Administration. Bisignano, known for his leadership in transforming large corporations, will continue his role at Fiserv until confirmation. The nomination comes amid concerns about the Social Security trust funds' projected insolvency by 2034. Trump has promised to protect Social Security but has not detailed his plans. Bisignano's political donations have primarily supported Republicans, including significant contributions to Trump's campaign.

via Milwaukee Journal Sentinel|
#fiserv#frank-bisignano#nomination